Sei Investments Co. increased its position in Ultra Clean Holdings, Inc. (NASDAQ:UCTT) by 16.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,905 shares of the semiconductor company’s stock after purchasing an additional 10,072 shares during the quarter. Sei Investments Co.’s holdings in Ultra Clean were worth $3,806,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Ultra Clean by 12.1% during the 1st quarter. BlackRock Inc. now owns 7,757,974 shares of the semiconductor company’s stock valued at $450,273,000 after acquiring an additional 840,392 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Ultra Clean by 167.2% during the 1st quarter. Nuveen Asset Management LLC now owns 704,130 shares of the semiconductor company’s stock valued at $40,867,000 after acquiring an additional 440,565 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ultra Clean by 5.5% during the 1st quarter. Geode Capital Management LLC now owns 665,053 shares of the semiconductor company’s stock valued at $38,599,000 after acquiring an additional 34,835 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Ultra Clean by 8.1% during the first quarter. Ameriprise Financial Inc. now owns 660,399 shares of the semiconductor company’s stock worth $38,328,000 after purchasing an additional 49,430 shares during the period. Finally, Factorial Partners LLC raised its holdings in shares of Ultra Clean by 4,167.6% during the first quarter. Factorial Partners LLC now owns 580,400 shares of the semiconductor company’s stock worth $10,000,000 after purchasing an additional 566,800 shares during the period. Institutional investors and hedge funds own 80.19% of the company’s stock.
In related news, Director David T. Ibnale sold 3,252 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $45.54, for a total value of $148,096.08. Following the completion of the transaction, the director now owns 84,647 shares in the company, valued at approximately $3,854,824.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Joe Williams sold 618 shares of the firm’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $55.09, for a total transaction of $34,045.62. The disclosure for this sale can be found here. Insiders sold a total of 9,446 shares of company stock valued at $471,764 in the last quarter. 2.30% of the stock is currently owned by insiders.
Ultra Clean (NASDAQ:UCTT) last announced its earnings results on Sunday, August 1st. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $505.44 million. Ultra Clean had a net margin of 5.34% and a return on equity of 21.88%. Ultra Clean’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. Equities analysts forecast that Ultra Clean Holdings, Inc. will post 3.59 EPS for the current fiscal year.
A number of analysts have weighed in on UCTT shares. Colliers Securities reissued a “buy” rating on shares of Ultra Clean in a report on Tuesday, August 3rd. Zacks Investment Research cut shares of Ultra Clean from a “buy” rating to a “hold” rating in a report on Friday, August 6th. Finally, Needham & Company LLC started coverage on shares of Ultra Clean in a report on Tuesday, August 3rd. They issued a “buy” rating and a $66.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $64.50.
About Ultra Clean
Ultra Clean Holdings, Inc designs, manufactures and sells its products and services primarily to customers in the semiconductor capital equipment industry. It operates through the following segments: Semiconductor Products & Solutions (SPS) and Semiconductor Services Business (SSB). The SPS segment provides warranty on its products for a period of up to two years and provides for warranty costs at the time of sale based on historical activity.
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